TITLE

Liability Limits for Anti-Terroeism Technologies

AUTHOR(S)
O'Rourke, Morgan
PUB. DATE
September 2004
SOURCE
Risk Management (00355593);Sep2004, Vol. 51 Issue 9, p9
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports on the decision of the U.S. Department of Homeland Security to grant liability protection to manufacturers of qualified security products in September 2004, in an effort to encourage the development of new anti-terrorism technologies. Under the provisions of the Support Anti-Terrorism by Fostering Effective Technologies Act of 2002 (SAFETY Act), manufacturers and sellers of anti-terrorism technologies that are designed and certified by Homeland Security are not responsible for claims arising out of, relating to, or resulting from an act of terrorism should their products fail. The Act's goal is that by removing potentially costly liability concerns, more companies will devote their efforts to products and services designed to mitigate terrorism risk. In order to obtain SAFETY Act designation and certification, companies must undergo an extremely detailed and time-consuming process. The application itself can take up to 110 hours to complete and requires detailed financial and company information. After the application is submitted, the review process can last up to 90 days before approval is granted and this time period can be extended should it be determined that more information is required for an accurate evaluation.
ACCESSION #
14265335

 

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